Brazil's Vale sees China iron ore demand rising in 2nd half 2014

RIO DE JANEIRO, July 31 (Reuters) - Chinese demand for iron
ore, the main ingredient in steel, should rise in the second
half of 2014, Vale's head of iron ore, Carlos
Martins, said on a conference call with analysts on Thursday.

The company's CFO Luciano Siani also said Vale maintenance
capital expenditure could fall by between 5 and 10 percent this
year.

"We are moderately optimistic about the price and we are
very optimistic in relation to our ability to gain margin by
increasing production and cutting costs through our new
projects," Martins said.

"More and more I think we will be focused less on price and
more on our capacity to deliver volumes and reduce costs," he
added.
(Reporting by Stephen Eisenhammer and Jeb Blount; Editing by
James Dalgleish)